Appraisals Under Dodd Frank Laws - Necessary?

[John Zhao]

I need clarification on the appraisal rule under DFA. My plan is to purchase a house with cash at a discount and turn around and sell it to someone else at a mark up while owner financing most of it. This will all happen within 30 days. Is this considered a "flip"? Do I need to do my own appraisal for the buyer at my own cost? Can someone shed some light on the rule here?

** I will be using an MLO for all my transactions and an trying to find out what I need to do to be fully DFA compliant.